Indicators Perspective In & Price Structure Insights Of BEAM

1 באוג׳

The BEAM has traded at a level of $0.01798 at press time and has revealed a pronounced downtrend, with a steady decline over the past few months. This continuous decrease to lower levels was illustrated by the development of consistent lower lows on the daily chart. It indicated a strong bearish structure.

In the event of a price resurgence, BEAM is most likely to encounter interruptions at higher levels. This hypothesized resistance could prompt a liquidity grab, ultimately pushing the price backward toward its previous swing lows.

Recent price actions reinforce the bearish outlook, as the BEAM price deflects from the upper border, with an increased struggle near the 50-day EMA. The asset breakdown yet again has suggested a surged likelihood of continued southward momentum.



The prevailing technical indicators and sentiment have needled towards continuing the bearish trend in the near term.

The technical indicators for BEAM display bearishness to uncertainty in its price trend. The 20-day and 50-day presented a death crossover ongoing from June 2024, signaling potential bearish momentum, as of writing.

The MACD has overlapped each other with the signal line, depicting the current struggle in the sideways price action of BEAM.

Meanwhile, the RSI has demonstrated a lack of movement, as it took support at the median line, but has already declined below the 14-day SMA, which could be an indication of a future fall towards oversold conditions.

Overall, it has been evident that technical indicators like EMAs and RSI depict bearish momentum, despite some short-term gains. However, an inclination observed in perpetual trading volume inflows hints at potential volatility.
Therefore, the Beam price might take support at the levels of $0.1251 and 0.1501, followed by the resistances of $0.0331 and $0.0401, respectively.